Compliance executives will obviously feel the brunt of the stress, but it turns out that stress has spread to executives throughout the C-suite.
In the SunGard survey, 39% of chief compliance officers, along with 34% chief risk officers, report high levels of stress. These executives are responsible for the day-to-day compliance responsibility. The fact that 38% of chief information/technology officers admit to stress may reflect than an overhaul of IT systems is required to cope with regulatory mandates. CFOs are stressed out because they have to make changes to processes and procedures to comply with the new regulations, while CFOs are zapped by the cost of the change programs.
Half the CEO respondents indicated they are experiencing high levels of stress, as well. That is not surprising, since the buck stops here. Some of the reasons for this include the fear of damage to the firm if a failure occurs, the fear of personal damage and liability, and the frustration with having to engage more directly with regulatory issues -- along with the possibility of missing business opportunities.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio